Little money buys a lot of industrial space

Binswanger has negotiated the purchase of a 590,000-square-foot facility on 36 acres in Anderson, Ind., and a 314,052-square-foot facility on 40 acres in Somerset, Ky. The properties are located at 1305 West 29th St. and at 1278 Highway 461, respectively.

The two transactions totaled nearly $2.5 million.

Tower Investments LLC, based in Northern California, is broadening its portfolio with these purchases and planning to retrofit both facilities. The properties will then be available for lease.

HLI-Kentucky Inc., former owner of the manufacturing facility in Somerset, sold the 40-acre property. SAGOL Land Development, an investment company based in Israel, sold the warehousing/manufacturing facility in Anderson.

Philadelphia-based Binswanger is an international, full-service real estate organization, with offices worldwide.

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